AmRes completes second phase of RTC purchase. (American Residential Mortgage Corp.'s purchase of loan-servicing contracts from the Resolution Trust Corp.)(Special Report: Finance)

San Diego Business Journal | December 9, 1991| | Copyright

American Residential Mortgage Corp. has completed the purchase of $500 million in loan-servicing contracts from the federal agency in charge of liquidating failed savings and loans.

Last week's closing marked the second phase of La Jolla-based AmRes' purchase of servicing contracts for $3.6 billion in loans from the Resolution Trust Corp., the S&L liquidator.

The deal was signed in April.

The first phase, which transferred $1 billion in RTC loan-servicing contracts to AmRes, closed in May.

AmRes expects to complete the purchase of another $800 ...

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